Stralem & Co. Inc. Reduces Stake in Adobe Systems Incorporated (ADBE)
Stralem & Co. Inc. decreased its holdings in Adobe Systems Incorporated (NASDAQ:ADBE) by 32.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,785 shares of the software company’s stock after selling 48,075 shares during the period. Adobe Systems comprises 3.0% of Stralem & Co. Inc.’s portfolio, making the stock its 19th largest holding. Stralem & Co. Inc.’s holdings in Adobe Systems were worth $17,486,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Janus Henderson Group PLC increased its holdings in Adobe Systems by 784.4% in the second quarter. Janus Henderson Group PLC now owns 11,226,707 shares of the software company’s stock worth $1,587,936,000 after buying an additional 9,957,241 shares during the last quarter. BlackRock Inc. increased its holdings in Adobe Systems by 8.2% in the second quarter. BlackRock Inc. now owns 34,445,217 shares of the software company’s stock worth $4,871,931,000 after buying an additional 2,621,275 shares during the last quarter. FMR LLC increased its holdings in Adobe Systems by 4.9% in the second quarter. FMR LLC now owns 35,647,268 shares of the software company’s stock worth $5,041,950,000 after buying an additional 1,651,762 shares during the last quarter. Polen Capital Management LLC increased its holdings in Adobe Systems by 31.5% in the second quarter. Polen Capital Management LLC now owns 6,062,530 shares of the software company’s stock worth $857,484,000 after buying an additional 1,452,892 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Adobe Systems by 45.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,833,692 shares of the software company’s stock worth $542,237,000 after buying an additional 1,190,108 shares during the last quarter. Institutional investors own 87.08% of the company’s stock.
Shares of Adobe Systems Incorporated (NASDAQ ADBE) traded up $4.24 during midday trading on Wednesday, hitting $196.70. The company had a trading volume of 1,764,954 shares, compared to its average volume of 2,557,980. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $96,420.00, a price-to-earnings ratio of 58.02, a price-to-earnings-growth ratio of 2.50 and a beta of 1.05. Adobe Systems Incorporated has a twelve month low of $107.06 and a twelve month high of $198.21.
Adobe Systems (NASDAQ:ADBE) last issued its earnings results on Thursday, December 14th. The software company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.10. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. Adobe Systems had a return on equity of 22.57% and a net margin of 23.20%. Adobe Systems’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. equities analysts anticipate that Adobe Systems Incorporated will post 4.58 EPS for the current year.
In other Adobe Systems news, EVP Matthew Thompson sold 2,190 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $173.42, for a total transaction of $379,789.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John E. Warnock sold 6,800 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $174.20, for a total value of $1,184,560.00. Following the transaction, the director now owns 16,088 shares of the company’s stock, valued at $2,802,529.60. The disclosure for this sale can be found here. Insiders have sold 88,772 shares of company stock valued at $15,798,527 over the last quarter. Corporate insiders own 0.38% of the company’s stock.
A number of equities analysts recently commented on ADBE shares. Robert W. Baird set a $160.00 price objective on Adobe Systems and gave the stock a “buy” rating in a report on Friday, October 6th. Bank of America restated a “buy” rating and issued a $220.00 price objective (up previously from $213.00) on shares of Adobe Systems in a report on Wednesday, December 13th. Vetr upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $190.64 price objective on the stock in a report on Monday, November 13th. Zacks Investment Research downgraded Adobe Systems from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, UBS Group started coverage on Adobe Systems in a report on Thursday, November 9th. They issued a “buy” rating and a $217.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $187.00.
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Adobe Systems Profile
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
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